Itta/91/2003 Of M.a.quddus Hyd v. Income Tax Officer Hyd

THE HON'BLE SRI JUSTICE DILIP B.BHOSALEANDTHE HON’BLE SRI JUSTICE A.RAMALINGESWARA RAO I.T.T.A. No.91 of 2003 JUDGMENT:(per Hon'ble Sri Justice Dilip B.Bhosale) This income-tax appeal under Section 260A of the Income TaxAct, 1961 (for short ‘the Act’) is directed against the order of the IncomeTax Appellate Tribunal, Hyderabad in I.T.A.No.1862/Hyd/1994 for theassessment year 1986-87. The appellate Tribunal partly allowed the appeal filed by theRevenue against the order of the Deputy Commissioner of Income-Tax (Appeals) dated 07.09.1994 cancelling the penaltieslevied under Section 271 (1) (c) of the Act for the assessment years1986-87 and 1987-88 and directed the Assessing Officer to levy theminimum penalty leviable against the assessee for both theassessment years. Learned counsel for the appellant placed before us theorder of this Court dated 03.09.2014 in companion I.T.T.A.No.92 of2003 arising from I.T.A.No.1863 of 1994 for the assessment year 1987-88. This Court, while deciding the companion appeal filedby the very same assessee, allowed the appeal holding that there wasno basis to levy penalty under Section 271 (1) (c) of the Act. Thequestion that fell for the consideration was “whether on the facts and inthe circumstances of the case, the Tribunal was justified in law inholding that the assessee was guilty of concealment of income andimposing penalty under Section 271 (1) (c) of the Act?”. Though question was not formulatedin the order dated 03.09.2014 in I.T.T.A.No.92 of 2003, the DivisionBench considered the facts of the case and allowed the appeal. Learned counsel for the appellant, therefore, submits that the presentappeal may also be decided in terms of the said judgment and answerthe question as aforementioned in favour of the assessee and against the Revenue. Learned counsel appearing for the Revenue could not and didnot dispute the contentions urged by the learned counsel for theappellant. Having regard to the judgment dated 03.09.2014, we answer thequestion raised in the instant appeal in favour of the assessee andagainst the Revenue. The appeal is accordingly disposed of. However, there shall beno order as to costs. Miscellaneous petitions pending in the appeal, if any, also standdisposed of. __________________ Dilip B.Bhosale, J 4[th] February, 2015.sur ________________________ A.Ramalingeswara Rao, J